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Deepak Cochhar and anr. Vs. Indusind Bank Ltd.

Court : Mumbai

Subject : Civil

Acts : Presidency-Towns Insolvency Act, 1909 - Sections 9, 9(2); Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 19, 19(22), 20, 25 to 30, 34 and 34(1); Code of Civil Procedure (CPC) , 1908 - Sections 2(2), 2(14), 36 and 144 - Order 21 - Order 45, Rule 1; Consolidation of Holdings Act, 1954; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Sick Industrial Companies (Special Provisions) Act, 1985; Court fees Act, 1870 - Schedule II - Article 11; Arbitration Act; Companies Act; Displaced Persons (Debts Adjustment) Act, 1951

Reported in : 2006(3)BomCR520; 2006(4)MhLj194

shall be in addition to, and not in derogation of, the Industrial Finance Corporation Act, 1948 (15 of 1948), the State Financial Corporations Act, 1951 … the Industrial Reconstruction Bank of India Act, 1984 (62 of 1984) and the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986).The provisions of section 34(1) clearly state that the RDB Act overrides other laws to the … the Debt Recovery Tribunal and consequent recovery certificate issued to them made an application to this Court under Section 9 of the Presidency-Towns Insolvency Act, 1909 (hereinafter referred to as 'the Insolvency Act') on the ground that by

O.K. Play (India) Ltd. Vs. Commissioner of Central Excise-ii, New Delh ...

Court : Supreme Court of India

Subject : Excise

Acts : Central Excise Act, 1944 - Sections 2, 11A, 11A(1), 11A(2), 11A(3) and 35L; Central Excise Rules, 1944 - Rules 9, 9(2) and 173G; Central Excise Tariff Act, 1985; Central Excise (Valuation) Rules, 1975 - Rule 6; Finance Act, 2000 - Sections 97, 97B and 110

Reported in : AIR2005SC1031; 2005(98)ECC633; 2005(180)ELT291(SC); JT2005(2)SC208; (2005)2SCC555

not levied or not paid or short levied or short paid or erroneously refunded - Retrospective validation by Finance Act, 2000 of action taken under Section 11A of Central Excise Act, 1944.---------------------------------------------------Subject: Retrospective validation of action takenunder Section … above process was not 'manufacture' in view of note 6(b) to Chapter 39 of the Central Excise Tariff Act. 1985 (hereinafter referred to for the sake of brevity as 'the 1985 Act'). According to the show-cause notices, the … assessment. Consequently, the department issued the above two show-cause notices under Rule 9 read with Section 11A of the 1944 Act.4. In reply, the assessee

Commissioner of Income Tax Vs. Hind Lamps Ltd.

Court : Allahabad

Subject : Direct Taxation

Acts : Payment of Bonus Act; Finance Act, 1985; Income Tax Act, 1961 - Sections 37(1), 40A(9) and 40A(12)

Reported in : (2003)185CTR(All)342

appeal relates to the asst. yr. 1986-87, Whereas Section 40A(12) was inserted in the IT Act by the Finance Act, 1985 w.e.f. 1st April, 1986. Hence the aforesaid provision will only relate to the proceedings for the asst. yr. … the appeal.The main point pressed by the learned counsel for the Department is that the amount of Rs. 9,82,426 was wrongly allowed by the Tribunal under Section 36(i) and (ii) or Section 37(1) of the IT Act.

Allahabad Bank Vs. Canara Bank and Another

Court : Supreme Court of India

Subject : BankingCompany

Acts : Companies Act, 1956 - Sections 19, 232(1), 442, 445, 446, 529A and 537; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 19, 20, 22, 25 and 34; Constitution of India - Articles 226, 227 and 323A; Banking Regulation Act, 1949 - Sections 5; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 - Sections 3; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Companies (Amendment) Act, 1960; Life Insurance Corporation Act, 1956 - Sections 15 and 41; Old Companies Act, 1913 - Sections 171; Banking Companies Act, 1949 - Sections 45C; Civil Procedure

Reported in : 2000(3)ALLMR(SC)475; 2000(2)CTC723; JT2000(4)SC411; 2000(3)SCALE169; (2000)4SCC406; [2000]2SCR1102; AIR 2000 SC 1535; MANU/SC/0262/2000

of the Companies Act, 1956-namely (i) the Industrial Credit and Investment Corporation of India Ltd; (ii) the Industrial Finance Corporation of India; (iii) the Industrial Development Bank of India; (iv) the Life Insurance Corporation of India and … 18% and interest tax levy at 0.75% p.a. Recovery Case (R.C. No. 9 of 98) was filed by the Allahabad Bank for recovery before the … Industrial Reconstruction Bank of India Act, 1984 (62 of 1984) and the Sick Industrial Companies (Special Provisions ) Act, 1985(1 of 1986).The provisions of Section 34(1) clearly state that the RDB Act overrides other laws to the extent

Atul Limited Vs. Prakash Industries Ltd.

Court : Delhi

Subject : ArbitrationCompany

Acts : Arbitration and Conciliation Act, 1996 - Sections 9 and 17; Sick Industrial Companies (Special Provision) Act, 1985; Income Tax Act, 1961

Reported in : 2003IIIAD(Delhi)459; 2003(2)ARBLR489(Delhi); 2003(68)DRJ430; 2003(2)RAJ409; [2003]46SCL73(Delhi)

be invoked. A Division Bench of this Court has decided in Escorts Finance Ltd. v. Mohd. Hanif D. Khan, 2001 V AD 392 that it … which are presently in the possession of a company which has invoked the Sick Industrial Companies (Special Provision) Act, 1985. 2. Counsel for the Respondent has relied on a decision of a learned Single Judge of this Court … 1. Two questions fall for determination in this petition. The first whether this Court should exercise jurisdiction under Section 9 of the Arbitration and Conciliation Act, 1996, in circumstances where admittedly the parties are before an Arbitral Tribunal

Commissioner of Central Excise, Delhi-i Vs. Joint Secretary(Revisionar ...

Court : Delhi

Subject : Excise

1957, Additional Duties of Excise (Textiles and Textiles Articles) Act, 1978 and special excise duty collected under the Finance Act. CVD was not specifically stipulated and treated as the duty paid under the notification No. 41/2001. It is … be decided is whether the Countervailing Duty (CVD) (Additional duty) leviable under Section 3 of the Customs Tariff Act, 1985 equivalent to the duty of excise paid on the imported inputs/materials used in the manufacture of exported goods … to the duty of excise specified under clauses (a),(b),(c),(d),(e) and (g) above” 9. The question raised in the present writ petitions is whether the aforesaid

Hdfc Bank Ltd. and anr. Vs. Kishore K. Mehta and ors.

Court : Mumbai

Subject : Civil

Acts : Presidency-Towns Insolvency Act, 1909 - Sections 9, 9(1), 9(2), 9(3) and 9(5); Recovery of Debts Due to Banks and Financial Institutions Act, 1994 - Sections 17, 17A, 17(1), 18, 19, 19(1), 19(4), 19(7), 19(12), 19(13), 19(17), 19(18), 19(19), 19(22), 20, 21, 22, 22(2), 23, 24, 25 to 30, 31A, 34, 34(1) and 34(2); Companies Act, 1956 - Sections 529A; Limitation Act; Income Tax Act, 1961; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Sick Industrial Companies (Special Provisions) Act, 1985; Small Industries Development Bank of India Act, 1989; Uttar Pradesh Public Monies (Recovery of Dues) Act, 1972; Rajasthan Relief Undertakings (Special Provisions) Act, 1961; Ren

Reported in : 2008(6)BomCR340

shall be in addition to, and not in derogation of the Industrial Finance Corporation Act, 1948, the State Financial Corporations Act, 1951, the Unit Trust … of India Act, 1963, the Industrial Reconstruction Bank of India Act, 1984, the Sick Industrial Companies (Special Provisions) Act, 1985 and the Small Industries Development Bank of India Act, 1989.34. The Debts Recovery Tribunal (Procedure) Rules, 1993 prescribes … point which arises for consideration in both these appeals is whether an insolvency notice can be issued under Section 9(2) of the Presidency-Towns Insolvency Act, 1909, hereinafter called as 'the Insolvency Act', on the basis of a recovery

Deputy Commissioner of Vs. Sulzer Bros.

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Land Acquisition

Reported in : (1993)46ITD546(Mad.)

he held: - that the lump sum consideration was chargeable to tax at 50% (as stipulated in the Finance Act); and - that the payment for special engineering services must be brought to tax at the rate of … for special engineering services must be brought to tax at the rate of 70% for the assessment years 1985-86and 1986-87 and at the rate of 65% for the assessment year 1987-88 (as provided in the Finance Act).17. … of trade mark or similar property. (c) Therefore, under the provisions of Section 115A(1)(b)(ii)(1), as they stood at the relevant point of time, tax was … the agreement dated 29-1-1976, then by virtue of the proviso to Section 9(1)(vi) and the proviso to Section 9(1)(vii), no tax would be exigible either

Union of India and ors. Vs. M/S. Ind-swift Laboratories Ltd.

Court : Supreme Court of India

Subject : Excise

Acts : Central Excise Act, 1944 - Sections 32E(1), 32F(7), 32M

the provisions of Sections 11A and 11AB of the Excise Act or Sections 73 and 75 of the Finance Act, shall apply mutatis mutandis for effecting such recoveries."2 16. A bare reading of the said Rule would indicate … a manufacturer of bulk drugs, falling under Chapter 30 of the First Schedule to the Central Excise Tariff Act, 1985. The company received inputs and capital goods from various manufacturers / dealers and availed CENVAT credit on the … deposit the balance amount in terms of the order dated 19.01.2007. 4 9. The High Court issued notice and heard the parties on the said … Rs. 5,71,47,148/-. Since conditions/parameters for the admission of a case prescribed under Section 32E(1) of the Central Excise Act, 1944 [for short "the Act"] were

Ksl and Industries Ltd. Vs. Arihant Threads Ltd. and ors.

Court : Supreme Court of India

Subject : SICABanking

Acts : Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 2, 3, 15 to 19, 19A, 20, 21, 22, 22(1), 22A, 25, 29, 32 and 32(1); Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 25, 28, 29, 30, 34, 34(1) and 34(2); Income Tax Act, 1961 - Sections 72A; Companies Act, 1956 - Sections 529(1) and 529A; Foreign Exchange Regulation Act, 1973; Urban Land (Ceiling and Regulation) Act, 1976; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951 - Sections 29 and 46B; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Small Industries Development Bank of India Act, 1989; Code of Civil Procedure (CPC) , 1908 - Sections 9; Recovery of Debts Due to Banks and Financial Institutions (Amendment) Act, 2000;

Reported in : IV(2008)BC421(SC); 153(2008)DLT27(SC); 2008(12)SCALE42; (2008)9SCC763

and held that in view of the provisions of Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 (hereafter referred to as `SICA'), no recovery proceedings could be effected against the first respondent- Company in the … In the instant case, proceedings had been initiated by the Bank not before a Civil Court by invoking Section 9 of the Code of Civil Procedure, 1908, but before DRT by taking recourse to jurisdiction under RDDB Act. … was the predecessor of the Stressed Assets Stabilisation Fund (`SASF' for short), financed the project undertaken by the Company by way of foreign currency loan